The Dow industrials jumped for a second consecutive session Wednesday while the broader market posted solid gains as investors welcomed several strong earnings reports. Stocks have struggled in recent days as concerns over U.S. interest rates, inflation, and the economy persisted, with the major indexes falling significantly in early June before rebounding. Oil prices jumped 99 cents to close at $70.33 a barrel on the New York Mercantile Exchange after the Energy Department said in its weekly inventories report that crude supplies rose more than expected but gasoline supplies rose less than expected. The Dow Jones industrial average rose 104.62, or 0.95 percent, to 11,079.46. Twenty-five of the index's 30 components gained. Morgan Stanley rose nearly 5 percent after the investment bank said its second-quarter earnings more than doubled, far surpassing expectations. The broader Standard & Poor's 500 index rose 12.08, or 1 percent, to 1,252.20, ending a three-session decline. The technology-heavy Nasdaq composite index rose 34.14, or 1.6 percent, to 2,141.20, also ending a three-session decline. Shares of Oracle rose after it said in received 32 million shares of Portal Software in response to its offer, enough to proceed with the acquisition. The New York Stock Exchange composite index rose 93.10 to 7,953.46. The American Stock Exchange composite index rose 18.88 to 1,865.81. And the Russell 2000 index rose 13.17 to 690.67.
